Chinalco Mining News

Guinea's mining minister says there will be Simandou deal, talks go on

Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on the Simandou iron ore project, its mining minister said on Tuesday, adding he was confident an agreement would be reached. […]

China's Chinalco starts $1.3bn expansion of Peru copper mine

The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually.

China's COSCO to build $2 bln shipping port in Peru

China is Peru's top trade partner and imports most of the minerals the South American country produces.

Tenova contracted as reliable supplier of processing lines for aluminum by Chalco Ruimin

The lines will start their production at the beginning of 2019.

Chinalco wants to be sole owner of world’s largest iron ore deposit

Move comes barely seven months after Rio Tinto agreed to sell it its stake in Simandou for up to $1.3 billion.

Rio Tinto defers former CEO Walsh bonus over Guinea scandal

Sam Walsh's bonuses, potentially worth millions, had been delayed for at least two years as investigations continue into dubious payments related to Simandou iron ore project in Africa.

Rio Tinto, Chinalco put an end to copper joint venture

The amicable divorce ends a six-year-old exploration joint venture originally set to find copper deposits in China.

Former Chinalco boss sent to prison for 16 years 

A Chinese court has sent a strong message to corporate executives who have been seeing playing fast and loose within the rules of boon-times capitalism in China.

Fresh shake-up at Rio Tinto in aftermath of bribery probe

Russian-Canadian Vera Kirikova will become human resources group executive while Simone Niven will assume the corporate relations group executive post.

China to invest $1.3bn expanding Toromocho, its largest overseas copper project

Preliminary deal is part of a series of agreements signed this week that will see China pouring close to $5.3 billion into Peru’s mining and energy sector.

Heads roll at Rio Tinto over Simandou probe — Davies, Valentine fired

Energy and Minerals chief executive Alan Davies said he would take the mining giant to court over his dismissal, adding there were “no grounds” for his termination.

Rio learnt about Simandou dubious payment over a year ago — report

Company is said to have found out about the emails referring to a questionable $10.5m payment to a consultant over the Guinea project more than a year ago, not 'just' in August, as it claimed.

Rio Tinto staff shaken to the core by bribery probe — CEO

Speculation is running and some of what is being said strikes at the heart of the culture and values of the company, chief executive officer Jean-Sébastien Jacques said in an internal memo.

Peru environmental agency gets tougher on miners

The move aims to expedite the processing and sanction of pollution cases.

Peru set to become world’s second largest copper producer in 2016

Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.

Chinalco forced to halt Peru’s copper project over ongoing pollution

The ruling was sparked by inspections carried out from March 16 to March 20 that detected contaminants in adjacent lakes.

MMG in halt on possible deal with Glencore Xstrata over Las Bambas

Las Bambas copper mine, located in Peru, is expected to fetch between $5 and $6 billion.

Glencore could agree sale of copper mine to Minmetals this week

Peruvian copper mine Las Bambas expected to fetch $5-6 billion.

Glencore Xstrata logs $7.4bn net loss, eyes oil deal with Russia

Despite the gloomy results, the commodities giant revenues for the year jumped 9% to $232.6 billion

Las Bambas down to one major bidder, investors uneasy

Analysts question the remaining bidder's ability to finance the project.